One question I am struggling with is how much cash should I have readily available to me. I am not talking about money in a checking or savings account at my local bank, but in my home. Most financial experts suggest around six months worth of expenses in a savings type account, and that is fine, but what about a scenario where you cannot withdraw money from the bank.
In Greece for example, there were long lines of people waiting to withdraw cash from their banks. On top of this, there was a limit they could take out. This was their own money and they couldn't withdraw it at their convenience.
I can foresee a time when this happens here in the U.S. This drives me to ponder how much cash I should carry in my home. Is it $1,000, $5,000, or even more. I don't know the right answer. Obviously, you will need to buy some type of safe or have a great hiding place if you have cash in your residence, but it seems to me that it would be worth it.
Any thoughts would be greatly appreciated.
I would suggest, first, that you join steemsilvergold. Lot's of very relevant info regarding this post, and a great sub-community too,
Next, i'd say it depends on many many factors. I.e. Your responsibilities, your dependants, your expenses. And also, your available (presently) savings.
As a general rule i would think at the very least $1,000-$3,000 However, rolling all the way up to 10k or more could put you in a very favourable position. If the shit hits the fan there's going to be lots of things (across all categories) for sale on the cheap.
So, goto steemsilvergold, check out the vast tome of knowedge there, then get on down to your bank -- they ain't paying you much to hold hostage your loot.
Best luck,
thedamus
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Thanks for the response and I will join the sub-community.
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I believe it is at least the highest amount you mentioned. I would have it in low denomination bills. If a scenario arises that we need "ready cash" I wouldn't consider a safe, safe.
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Thanks for the comment and I completely agree with you. I would never have $100 bills as some businesses don't take them and I don't want to flash them around.
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Depends on each of us
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There's a saying that says ignorance is bliss. Yet I'm starting to realize that ignorance is only Bliss to those who can profit from it. Unfortunately too many people are quick to label others as conspiracy theorist when they lovingly try to warn their friends and family about current events . This is exactly why we need to prepare ourselves. Because there are people in our families that will never listen no matter how many fax you throw at them. And eventually they will need our help. I like to say knowing that there is a flood coming holds no value for me if I did not take the time to build my ark.
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